The bull trend is obviously very strong but the market is reportedly very long already so its a difficult call, whether to be in dip-buying mode alongside the trend or whether to sell into exhaustive rallies. I’m definitely in the latter camp but I would like to see the opening gap closed and that level broken cleanly before I can confidently start calling a top.
I’ve sold a bit more EUR/JPY earlier this morning and I’m reducing my EUR/USD longs, after the break above 1.3170 failed to sustain itself.